Insider Selling: Hamilton Insurance Group, Ltd. (NYSE:HG) Insider Sells 6,000 Shares of Stock

Key Points

• Insider Alexander James Baker sold 6,000 shares of Hamilton Insurance Group for $142,740, reducing his ownership by 4.90% to 116,338 shares.
• Hamilton Insurance Group reported $1.55 earnings per share, significantly exceeding the consensus estimate of $1.01, with a quarterly revenue of $712.03 million.
• Brokerages have raised price targets for the stock, with Barclays setting a new price objective of $25.00 and Wells Fargo raising theirs to $26.00, indicating positive market sentiment.

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report) insider Alexander James Baker sold 6,000 shares of Hamilton Insurance Group stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $23.79, for a total transaction of $142,740.00. Following the completion of the sale, the insider owned 116,338 shares of the company's stock, valued at $2,767,681.02. This trade represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hamilton Insurance Group Price Performance

Shares of HG traded up $0.57 during trading hours on Tuesday, reaching $23.59. The company had a trading volume of 50,895 shares, compared to its average volume of 512,623. The firm has a 50 day simple moving average of $21.53 and a 200-day simple moving average of $20.37. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 6.46 and a beta of 0.81. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. Hamilton Insurance Group, Ltd. has a 12-month low of $16.80 and a 12-month high of $24.54.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.55 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.54. The firm had revenue of $712.03 million for the quarter, compared to analysts' expectations of $519.50 million. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%. Research analysts expect that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current year.

Institutional Investors Weigh In On Hamilton Insurance Group

Hedge funds have recently made changes to their positions in the business. Amalgamated Bank boosted its holdings in shares of Hamilton Insurance Group by 92.2% in the 1st quarter. Amalgamated Bank now owns 1,428 shares of the company's stock valued at $30,000 after purchasing an additional 685 shares during the last quarter. Arizona State Retirement System acquired a new stake in shares of Hamilton Insurance Group in the 1st quarter valued at about $267,000. Victory Capital Management Inc. increased its holdings in shares of Hamilton Insurance Group by 279.5% in the 1st quarter. Victory Capital Management Inc. now owns 471,128 shares of the company's stock valued at $9,766,000 after acquiring an additional 346,998 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Hamilton Insurance Group by 18.8% in the 4th quarter. Bank of America Corp DE now owns 212,586 shares of the company's stock worth $4,046,000 after buying an additional 33,613 shares during the last quarter. Finally, Informed Momentum Co LLC bought a new position in Hamilton Insurance Group during the 1st quarter worth $3,143,000. Institutional investors and hedge funds own 29.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley reiterated a "cautious" rating on shares of Hamilton Insurance Group in a research report on Monday. Barclays upped their price target on Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. JMP Securities raised their price target on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Wells Fargo & Company raised their price objective on shares of Hamilton Insurance Group from $24.00 to $26.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Hamilton Insurance Group from $25.00 to $27.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $25.43.

About Hamilton Insurance Group

Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company operates Hamilton Global Specialty, Hamilton Select, and Hamilton Re underwriting platforms. The company offers casualty reinsurance products, such as commercial motor, general liability, healthcare, multiline, personal motor, professional liability, umbrella and excess casualty, and worker's compensation and employer's liability reinsurance; property reinsurance and insurance; and specialty reinsurance solutions, including accident and health, aviation and space, crisis management, mortgage, financial lines, marine and energy, and multiline specialty.